This case involved an underlying arbitration before an arbitration panel operating under the Financial Industry Regulatory Authority (“FINRA”) rules, which was brought by Judith and Kenneth Goldman against their financial...more

The United States Court of Appeals for the Second Circuit has reversed its own precedent to allow federal courts examining petitions under § 10 of the FAA to “look through” the petition to examine if there is federal...more

Within weeks, the Second and Third Circuits reached opposite conclusions over federal jurisdiction to confirm, modify or vacate arbitration awards. The Second Circuit now allows courts to look through the face of the...more

Goodwin Procter’s Business Litigation Reporter provides timely summaries of key cases and other developments within dedicated Business Litigation sessions and related courts throughout the country – courts within which...more

Pleading Common Law Fraud Under Rule 9(b): Conflicting Circuit Court Interpretations -
Federal Rule of Civil Procedure 9(b) prescribes the standards for pleading a common law fraud claim. The Rule states that “[i]n...more

The Fifth Circuit Bar Association’s summary reports:
“Appellants were investors who suffered financial losses as a result of R. Allen Stanford’s Ponzi scheme. In their arbitration complaint, they sought $80 million in...more

Regulatory Developments -
CFPB Announces Steps to Improve Checking Account Access -
On Feb. 3, the CFPB announced that it was taking three steps to expand checking account access to the approximately 10 million...more

I don't draft arbitration provisions in agreements, but if I did I would not draft one like the one in Taggart v. Physicians Pharmacy Alliance, Inc. Not because it turned out to be unenforceable, but because it was found to...more

In 2016, regulated persons in Canada are increasingly likely to find themselves facing prosecution before tribunals, rather than in courts, and facing significant exposure to monetary penalties in those...more

SEC Adopts CEO Pay Ratio Rule -
The U.S. Securities and Exchange Commission (SEC) recently adopted a final rule requiring public companies to disclose the ratio of annual pay of their chief executive to median annual pay...more

The Eighth Circuit Court of Appeals recently held that New Jersey state law fraud claims against Morgan Keegan, the brokerage firm now part of Raymond James & Associates, were tolled by the plaintiffs’ efforts to collect an...more

Introduction -
In France, a procedure exists whereby a third party (X) affected by a judgement between two other parties (Y,Z), may challenge that judgement by way of third party action (tierce opposition), where that...more

The travails of Petrobras have generated a lot of attention – and litigation – in the past year. On July 30, 2015, District Judge Jed Rakoff, of the Southern District of New York, issued an opinion explaining his prior order...more

In this issue:
- News from the Courts
- Chancery Court Denies Enforcement of Drag-Along Right in Transaction Where Notice to Minority Stockholders Improperly Provided After Majority Stockholder Approval...more

Two recent decisions, one from the Delaware Court of Chancery and one from the California Court of Appeal, Fourth Appellate District, refused to apply bylaws that impaired a shareholder/member plaintiff’s ability to pursue...more

The Corporation Law Section of the Delaware State Bar Association recently approved amendments to the General Corporation Law of the State of Delaware (the “Proposed DGCL Amendments”), which would prohibit Delaware stock...more

There have been several recent Delaware court decisions and much commentary regarding the enforceability of bylaw provisions that establish rules governing stockholder litigation, including fee-shifting provisions and forum...more

In this memorandum opinion, the Court of Chancery granted the plaintiff-counterclaim defendant’s motion for summary judgment seeking to compel arbitration of a post-closing price adjustment to a stock purchase agreement and...more

An all-public panel of FINRA arbitrators entered a preclusion order and awarded $750,000 in punitive damages for Respondents’ failure to participate in discovery and disregard of pre-hearing filing requirements....more

In recent years, the Supreme Court has decided a number of cases that, alone and certainly in the aggregate, have significantly impacted the ability of plaintiffs to initiate and maintain class actions.
By and large,...more

In Regulatory Notice 14-40, FINRA reminds members that it is a violation of FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) to incorporate into a settlement agreement a confidentiality provision...more

Why it matters -
In a new regulatory notice, the Financial Industry Regulatory Authority (FINRA) reminded regulated firms not to prohibit the exercise of whistleblower rights in settlement agreements with employees and...more

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